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Subcontractor Insurance: 7 Policies Subs Should Consider for Their Business

Levelset

Business insurance can help mitigate occurrences or disasters that can severely impact or destroy the good standing of your business. Let’s take a look a subcontractor insurance: when it’s needed, what happens if a sub goes uninsured, and what policies subs can use to protect their businesses from risk.

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Insurance for HVAC Contractors: What It Covers and Why You Need It

Levelset

HVAC contractor insurance is the primary way to help protect your financial interest if things go wrong on the job. This contractor’s insurance solution is typically the most cost-effective means to secure coverage and give you peace of mind. What is HVAC contractor insurance? Who needs HVAC insurance?

professionals

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What is Experience Modification Rate (EMR), and How Does it Impact Prequalification?

Safety Services Company

Insurance companies use the number to assess the cost of injuries and future risks. Lowering your EMR is important, as you can greatly reduce the amount you pay for workers’ compensation coverage. Your company has filed one or more workers’ compensation claims. you will pay about 20% more for insurance.

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The Danger of Over-Reporting on your OSHA 300 Forms

Safety Services Company

Total Recordable Incident Rate or TRIR is a mathematical computation that takes into account how many OSHA recordable incidents a company has per number of hours worked and this number can affect the fate of a company. The lower the EMR of a business, the lower their worker compensation insurance premiums will be. What is TRIR?

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Construction Business Owner Blogs

Construction Business Owner

ACCOUNTING |. INSURANCE |. Accounting & Finance. A safe work environment is one of the most straight forward ways to decrease workers compensation expenses. Fewer accidents also mean lower insurance premiums, which mean lower labor costs. Thank you for writing the following account. Tags accounting.

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Top 8 Construction Health and Safety Hazards — and Ways to Protect Your Jobsite

Levelset

According to data from the Bureau of Labor Statistics, falls accounted for more than 1 in 3 jobsite fatalities in 2019. Falls trigger a lot of OSHA safety inspections, and they account for half of the top 10 violations handed out by the Office. “Struck-by” fatalities numbered 170 in 2019 , accounting for 15.4%

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Key Financial & Safety Metrics for Subcontractor Qualification 

Autodesk Construction Cloud

Formula: (Cash and Cash Equivalents + Marketable Securities + Accounts Receivables) / Current Liabilities . Accounts Receivable Turnover . Accounts Receivable Turnover is an activity ratio that measures how efficiently a firm uses its assets. A higher ratio indicates a stronger ability to collect on Accounts Receivable. .

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